The World Bank has chosen Korean-born American, Jim Young Kim as its new president. But many economists, particularly in the developing world, had backed his rivals, seeking to end U-S control over who runs the bank.
He was President Barack Obama’s surprise nomination.
A surprise because - although qualified in the challenges of global health - Dr. Kim is medical doctor, not a Ph.D. economist.
Speaking in Lima, Dr. Kim told CCTV how he plans to win over skeptics when he assumes the World Bank presidency on July 1.
The United States has appointed the World Bank President since the end of the Second World War. For the first time in more than 60 years the choice wasn’t unanimous. Dr. Kim’s chief rival, Nigerian Finance Minister Ngozi Okonjo-Iweala received considerable support outside the U-S --and endorsements from leading financial publications.
She rose through the ranks at the World Bank to become one of its three managing directors.
The other candidate, Jose Antonio Ocampo, a former Colombia finance minister and high-ranking U-N official, dropped out of the race.
So what did Dr. Kim think about the way this process unfolded
Four of the so-called "BRICS" nations Brazil, Russia, India and China are among the Top 10 economies in the world. They want influence commensurate with their financial power. .
That includes having a say over who heads the World Bank, whose mission is to stamp out global poverty.
So how does Dr. Kim plan to do that
Reporter: “As new challenges force the World Bank to change, one thing will remain the same - an American will be at the helm.